Good morning, Austin! We have scanned the internet to bring you today's tech news. Here's what's happening:
After a stellar performance, Facebook stock dives
Facebook shares tumbled 7 percent in after-hours trading on Wednesday as the world’s largest online social media network warned that revenue growth would slow this quarter.
The slip reflected doubts among investors that the company can continue its runaway success, even as it reported strong mobile ad numbers and steady growth in its enormous network, which grew to nearly 1.8 billion monthly users in the latest quarter.
Business Insider explains the challenges that Facebook faces here.
Fitbit shares take a hit too
Fitbit Inc. lost almost a third of its market value in late trading after the wearable gadget maker’s sales forecast for the holiday shopping season fell far short of analysts’ expectations.
Revenue in the current quarter will be $725 million and $750 million, the company said Wednesday. That compares with an average analyst prediction of $981.3 million.
Fitbit has been trying to prove it's got long-term potential by doubling down on research and development and re-positioning itself as a digital health platform.
But it's facing growing competition from lower-cost wearable makers like Xiaomi Corp. and players like Apple Inc. at the high end.
Uber will deliver Chicago Cubs gear
It took 108 years for the Chicago Cubs to see a World Series victory. Now fans will only have to wait minutes to get championship gear to celebrate it.
Starting tomorrow morning, Cubs fans in Chicago can purchase championship hats and t-shirts through the Uber ride-hailing app. Dedicated Uber drivers will be on the road to deliver the purchases to customers within minutes.
Uber is partnering with Fanatics, the online retailer that manufactures and sells licensed sports apparel from professional teams. The two companies previously partnered to offer Los Angeles Rams apparel in Los Angeles in advance of the team’s first game this season.
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